货币

Creditor nations tend to set the rules and the new global monetary system will be unable to operate without the approval of China, a creditor country that has capital controls and a managed currency.

债权国一般能够制定规则。中国作为存在资本控制以及管理货币的债权国，新的全球货币系统若是少了他的支持将无法运作。

Price is determined by monetary policy in traditional monetarists' view.

传统的货币数量论认为价格水平主要由货币政策决定。

Monetarists have long advocated that money is a central variable to the explanation of price inflation.

货币主义者一直以来都主张货币是解释物价膨胀的重要参数。

Monetarists have always singled out monetary policy, and in recent decades new Keynesians pretty much adopted that view as well.

货币学派总是对货币政策吹毛求疵，近几十年来，新凯恩斯学派几乎也采取了这个观点。

Monetarists believe the most significant factor influencing inflation or deflation is the management of money supply through the easing or tightening of credit.

货币学派相信影响通货膨胀以及紧缩最显著的因素是通过紧缩或者放宽信贷的方式来管理货币的供应。

This story illustrates the difficulty of defining , measuring and controlling the money supply and civil wars among the monetarists on such issues have put off many people .

这个故事说明，对货币供应量进行定义，衡量和控制是多么地困难；而货币主义者在此类问题上的&内战&，已令许多人感到厌烦。

Monetarists argued that only by tackling the amount of money circulating in the economy could governments tame inflation, then the scourge of Western economies.

货币主义者认为，政府只有掌控在经济中流通的货币，才能遏制通货膨胀，进而结束西方国家的苦难局面。

In developed countries politicians may talk like Keynesians, but they behave like monetarists, looking to the central bank, rather than fiscal policy, to stave off inflation and recession.

在发达国家，政治家看起来都在大谈凯恩斯主义，但他们实际上都是货币主义者，当反通胀和反衰退时，他们都求助于货币政策，而不是财政政策。

Monetarists asserted, however, that a very limited, circumscribed form of government intervention — namely, instructing central banks to keep the nation's money supply, the sum of cash in circulation and bank deposits, growing on a steady path — is all that's required to prevent depressions.

但是， 货币主义者力主说，只要靠一种程度非常有限的、不超出某种范围的政府干预形式——亦即政府指示央行保持国家的货币供给，也就是流通中的现金和银行存款之总和，使之处于平稳增长的路径之上——那么这就足以防止衰退。

Monetarists believe that if the Fed acts by increasing the money supply, another 1930's style depression can be avoided. Keynesians believe that if fiscal stimulus is applied, deflation and a recession can be avoided.

货币主义者坚信如果美联储增加货币供应量，另外一场类似1930年的萧条时可以避免的。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。